How to Crush the Nigerian Stock Market with These Amazing Investor Tools
There is hardly any genuine investment that does not require a very important element: Due Diligence.
Even if you have someone picking stocks for you, that person must have done their due diligence to back up their thesis.
Having traded stocks on the largest exchange in the world, I can conveniently say, the difference between a good trader/investor is how they source and utilize information.
In this world, information can not be underestimated. It is, as a matter of fact, what makes or mar your account. Beginners usually do not know where to start from or how to do their research before investing in a stock on the Nigerian Stock Exchange. We will be sharing tools you can use in doing your research.
[I] NGX Portal: This is the official trading platform of the Nigerian Stock Exchange. This platform offers real-time market data, order execution and a bit of analytical tools. Check here for more details on the portal : https://ngxgroup.com/
[II] Investopedia: If you are not starting from here, you are doing it wrong. If you want to learn more about investing, you can visit Investopedia, a website that provides various resources on the topic, such as articles, tutorials, and videos. Here >> https://www.investopedia.com/
[III] NairaMetrics: Investors love Nairametrics because it is mostly tailored towards local financial news. For the latest news and insights on the Nigerian market, you can check out Nairametrics, a website that offers daily news updates, market commentary, and research reports. See here >> https://nairametrics.com/
[IV] TradingView: Once you are comfortable with the fundamental analysis of stocks and you begin to learn about the technical analysis, hop onto TradingView to continue your analysis. Ascertain and map out your strategy. Support, Resistance, Pivot points, Chart patterns, Volume Price Analysis. So many tools you can deploy in analyzing your stocks.
[V] MarketScreener: This by far, the best tool out there for both professionals and beginners. Nothing comes close to this. It has all the necessary tools — general information about your stock, chart with multiple periods, financials — all the reports, technical analysis, candlestick patterns, and analyst price target.
After getting yourself educated about the Nigerian Stock Exchange, then you can start using MarketScreener for your due diligence.
Also, note that MS covers most markets in the world. This is a huge plus as you can see the global market on a single platform.
Remember to also define what you want from the Stock Market — Long Term Trader, Swing Trader, Day Trader.
There is also a need to be cautious and have defined risk appetite. Determine your entry, exit, profit targets, risks, before even entering a trade.
N/B: I am also building an investment tracker. This will be for sale when ready. DM me on Twitter IF interested [@PlugPortal OR @Teebizy on Twitter] — Alöba
Selah.
